Book - "Rich Dad, Poor Dad"

Martin_y

Hi all
I wonder how many of you have read this book? I heard about it a long time ago, then recently, I saw someone in my office reading it, and he showed me a bit of the content. This colleague was almost using it like a text book - he had parts of it highlighted everywhere, and notes written down, etc. Speaking to this colleague during lunch, etc, I heard a few of the ideas this colleague was working on, and it made me want to read the book.

So, being a cheapskate, I found a torrent and downloaded the book in PDF. Last week I was away in Japan on a trip for work ( I live near London ) , so I not only had time to read the book, but also to read it slowly, carefully, and really digest it. In case you havent read it, then I wont divulge the contents here and spoil it, except to say that it helped me to realise that I am doing a few things right, but, that I also I need to do a few things much better.

I hope I am not too late, but the thing thats really frightening me is the prospect of retiring ( I am 48 now ). My wife and I have a little boy, and we both have jobs that pay decently. Combined, our salaries sound like a lot, and yet we seem to be struggling. Ok, there have been some circumstances, (bad luck, a bad investment, and I was made redundant a few years ago), that have lead to us being in debt by £8 000. The first mistake is denial. We were paying off this debt a little here and there, but we had no PLAN about this debt, or, in fact about our combined finances and expenses. So I started doing a budget every month. I couldnt be in denial any more - there were the numbers - I was spending more than I was earning. My wife paid for some stuff, and I paid for other stuff, but I was paying all the big expenses. I sat down with my wife and we had a financial discussion ( which is almost as difficult as discussing sex ), and I had to choose a day when we were both in a relaxed mood , and frame of mind. Now we have a plan, and that debt will be gone in under a year, I hope.

Now, back to the book, and part of it really hit home to me, because it describes how nearly every family is in the same situation as my scenario above. We go to work, get paid, and all our money seems gone at the end of the month, and almost nothing to show for it.

The book describes how to get out of this situation, (or even avoid it if you start young enough!)and has got some real goo d advice. One piece of advice, which I had learnt myself recently is "dont rely on your employer to take care of you".
It is so easy to have a good job, with a decent pension, and to go around thinking that all is well. Then, one day some project manager will come into your dept and announce "95% are being made redundant", because the dept you are in is not "part of the Company's core business", or whatever excuse they give, to dump you for the sake of improving the next quarter's share price !

So we need to be in control of our own situation much more.

My company pension is not going to come to not much, even if I do manage to stick where I am working now, till I am 65. I cant say I have had my "light-bulb moment", but its as if the lights are being faded in, like at the theatre!

The book turned the fader up a notch for me! Next book I am reading - "Think and grow Rich"

duchy

But you only have 8 posts and have joined the site within the last 20 days.

ailuro2

:spam:

why do they do it?:rolleyes: Surely no-one here is stupid enough to fall for it.

money_maker_3

Can I not sound stupid and ask why this is spam? I have looked the book up in wikipedia and it seems to be exactly what the OP has said (almost)

http://en.wikipedia.org/wiki/Rich_Dad,_Poor_Dad

geordie_joe

money_maker wrote: »

Can I not sound stupid and ask why this is spam? I have looked the book up in wikipedia and it seems to be exactly what the OP has said (almost)

http://en.wikipedia.org/wiki/Rich_Dad,_Poor_Dad

The OP, and the author of the wiki page could be the books author. I have never heard of, or read, the book, but have to ask why a newbie comes in here and posts such a long post about the book.

Of course the OP could just be someone who has read the book and wants to tell the world about it. But reading some reviews on Amazon it's not all it's cracked up to be.

cazziebo

Walk into any bookstore and this book will be in a prominent place. It's reasonably well known. So I don't think it's SPAM and the book is well enough marketed I shouldn't think the author has to drum business in here.

What I do think is that it's one of these self help books that states the obvious. I'm not a*se licking here but I found Martin's books to be full of practical help - not high level share the problem with your partner, look at your spending etc. which is what this book is. (didn't read it all, flicked through it at a friend's)

Like exercise videos, diet books, etc etc they only work if you put them to use. Martin's tips give you quick wins that really help you stay on track to get the long term gains. We also have this great supportive website that adds to the knowledge.

but glad you found it useful, OP.

lavandergirl_2

I have read Rich Dad, Poor Dad and was written by Robert Kiyosaki. He says he made his fortune through real estate but it seems obvious he also made his fortune by publishing his book.

It's not a spam It's actually a good book. It is not much well known in the UK as it is an American book.

Try reading Who Moved My Cheese? That's a very good book.

jo_b_2

geordie_joe wrote: »

The OP, and the author of the wiki page could be the books author. I have never heard of, or read, the book, but have to ask why a newbie comes in here and posts such a long post about the book.

Of course the OP could just be someone who has read the book and wants to tell the world about it. But reading some reviews on Amazon it's not all it's cracked up to be.

The book is very well-known (an international best-seller) and I very much doubt that the author needs to drum up business by posting on MSE!

I read it about a year ago and didn't find it that great, to be honest. (The gist of the book seems to be that you need to invest and change your mindset about money to make millions.)

I did end up selling the book for a profit on Amazon though as it is quite popular on there!

tomstickland

The book is well known. One day I might bother reading it, though I don't expect I'll like it.

bert&ernie

Having read the reviews on Amazon I came away with the feeling that the vast majority of reviewers sounded like a relative of mine after an Anthony Robbins seminar - utterly brainwashed.

It appears to be a highly lucrative (for the author) take on the get rich quick/change your life forever books hawked off the back pages of magazines.

bert&ernie

At least the book is relatively cheap.

How about the one of the author's board games - Cashflow 101? only £200
then there's the add on, you guessed it - Cashflow 202 - only another £90

What is it they say about fools and money?

Personally, I think you can learn everything you need to know from the Game of Life.